CorVel Announces Revenues and Earnings
CERIS implemented an additional Top 10 national health plan and formed a partnership providing access to the Blue Cross Blue Shield market.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
CorVel (CRVL) reported quarterly revenue of $267 million, with earnings rising for the period ended September 30, 2026. Revenue increased 11% year over year, while diluted earnings per share rose 24% to $0.67 from $0.54. Gross profit increased 24% to $72.3 million, representing a 27% gross margin. Net income reached $34,087,000, compared with $27,906,000 a year earlier.
For the six months ended September 30, revenue increased to $527 million from $474 million, and diluted earnings per share rose to $1.31 from $1.06. Quarterly general and administrative expenses increased to $26,454,000 from $22,277,000. CorVel ended the quarter with $270 million in cash and cash equivalents and no borrowings, after repurchasing $18.1 million of common stock during the quarter.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQuarterly revenue increased 11% year over year to $267 million.
- Moderate pointQuarterly gross profit increased 24% to $72.3 million, with a 27% gross margin.
- Moderate pointQuarterly operating income rose to $45,845,000 from $35,900,000 a year earlier.
- Moderate pointQuarterly net income increased to $34,087,000 from $27,906,000 a year earlier.
- Moderate pointQuarterly diluted earnings per share increased 24% to $0.67 from $0.54.
- Moderate pointCash increased to $269,988,000 from $233,072,000 at March 31, 2026; quarter-end borrowings were zero.
8 minor points
- Minor pointSix-month revenue increased to $527,054,000 from $474,354,000 a year earlier.
- Minor pointSix-month gross profit increased to $140,093,000 from $114,802,000 a year earlier.
- Minor pointSix-month operating income increased to $89,186,000 from $71,183,000 a year earlier.
- Minor pointSix-month net income increased to $66,312,000 from $55,141,000 a year earlier.
- Minor pointSix-month diluted earnings per share rose to $1.31 from $1.06; basic rose to $1.31 from $1.07.
- Minor pointCommon stock repurchases returned $18.1 million during the quarter.
- Minor pointCERIS implemented an additional Top 10 national health plan.
- Minor pointCERIS partnership provides access to the Blue Cross Blue Shield market.
Negative
- Minor pointQuarterly cost of revenues increased to $194,830,000 from $181,466,000 a year earlier.
- Minor pointQuarterly general and administrative expenses rose to $26,454,000 from $22,277,000 a year earlier.
- Minor pointQuarterly income tax provision increased to $11,758,000 from $7,994,000 a year earlier.
- Minor pointSix-month cost of revenues increased to $386,961,000 from $359,552,000 a year earlier.
- Minor pointSix-month general and administrative expenses rose to $50,907,000 from $43,619,000 a year earlier.
3 minor points
- Minor pointSix-month income tax provision increased to $22,874,000 from $16,042,000 a year earlier.
- Minor pointAccrued liabilities increased to $233,889,000 from $203,518,000 at March 31, 2026.
- Minor pointLong-term lease liabilities increased to $25,643,000 from $20,687,000 at March 31, 2026.
Key Figures
- Quarterly revenue
- $267 million
- Quarter ended September 30, 2026; compared with $240 million in the prior-year quarter
- Diluted EPS
- $0.67 (+24%)
- Second quarter fiscal 2027 vs. the prior-year quarter
- Gross profit
- $72.3 million (+24%)
- Second quarter fiscal 2027 vs. the prior-year quarter
- Gross margin
- 27%
- Second quarter fiscal 2027
- Cash and borrowings
- $270 million of cash; no borrowings
- At quarter end
- Common stock repurchased
- $18.1 million
- During the quarter
- Six-month revenue
- $527 million
- Six months ended September 30, 2026; compared with $474 million in the prior-year period
- Six-month diluted EPS
- $1.31
- Six months ended September 30, 2026; compared with $1.06 in the prior-year period
Historical Context
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Reported first-quarter FY2027 revenue, gross profit, net income, and diluted EPS growth.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gross margin financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORT WORTH, Texas, Nov. 03, 2026 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended September 30, 2026. Revenues for the quarter were
Second Quarter Fiscal Year 2027 Highlights
- Revenue increased
11% to$267 million , compared to the second quarter of fiscal year 2026. - Gross profit increased
24% to$72.3 million , at a27% gross margin, compared to the second quarter of fiscal year 2026 gross profit of$58.2 million . - Diluted earnings per share increased
24% to$0.67 , compared to second quarter of fiscal year 2026 diluted earnings per share of$0.54 . - The Company exited the quarter with
$270 million of cash, cash equivalents, and no borrowings. - The Company repurchased
$18.1 million of common stock during the quarter.
CorVel generated strong momentum in its workers' compensation and liability businesses through new customer wins and deeper relationships with existing clients. As employers and insurers face greater claim complexity, rising medical costs, and increasing administrative demands, the Company's integrated claims management and managed care model brings together clinical expertise, technology, and cost containment solutions to improve patient outcomes and manage total claim costs.
Technology innovation remains central to CorVel's efforts to modernize claims administration and increase operational capacity. The integration of artificial intelligence into core claims workflows is reducing manual processes and providing adjusters with more timely, actionable information. Recent developments within CareMC and My Care, a digital self-service portal, are improving communication and access to claim information. Within Network Solutions, the introduction of Marketwise RepricingTM provides a more sophisticated approach to out-of-network medical repricing, while investments in pharmacy benefits management strengthen pricing, network access, and clinical oversight.
CERIS gained further traction among the nation's largest healthcare payers with the implementation of an additional Top 10 national health plan and a strategic partnership providing access to the Blue Cross Blue Shield market. Product development efforts include new Hospital Bill Audit and Professional Claims solutions, extending the scope of CERIS' prepayment services to address complex reimbursement challenges. Together, these initiatives position CERIS to deepen customer relationships, reach new markets, and deliver greater value to health plans seeking improved payment accuracy and control over healthcare expenditures.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, improved payment accuracy and reducing costs, improving program performance and achieving better outcomes with operational expertise combined with advanced technology. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2026, and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
CorVel Corporation
Quarterly Results – Income Statement
Quarters and Six Months Ended September 30, 2026 (unaudited) and September 30, 2025 (unaudited)
| Quarter Ended | September 30, 2026 | September 30, 2025 | ||||||
| Revenues | $ | 267,129,000 | $ | 239,643,000 | ||||
| Cost of revenues | 194,830,000 | 181,466,000 | ||||||
| Gross profit | 72,299,000 | 58,177,000 | ||||||
| General and administrative | 26,454,000 | 22,277,000 | ||||||
| Income from operations | 45,845,000 | 35,900,000 | ||||||
| Income tax provision | 11,758,000 | 7,994,000 | ||||||
| Net income | $ | 34,087,000 | $ | 27,906,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 0.67 | $ | 0.54 | ||||
| Diluted | $ | 0.67 | $ | 0.54 | ||||
| Weighted Shares | ||||||||
| Basic | 50,545,000 | 51,314,000 | ||||||
| Diluted | 50,690,000 | 51,723,000 | ||||||
| Six Months Ended | September 30, 2026 | September 30, 2025 | ||||||
| Revenues | $ | 527,054,000 | $ | 474,354,000 | ||||
| Cost of revenues | 386,961,000 | 359,552,000 | ||||||
| Gross profit | 140,093,000 | 114,802,000 | ||||||
| General and administrative | 50,907,000 | 43,619,000 | ||||||
| Income from operations | 89,186,000 | 71,183,000 | ||||||
| Income tax provision | 22,874,000 | 16,042,000 | ||||||
| Net income | $ | 66,312,000 | $ | 55,141,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 1.31 | $ | 1.07 | ||||
| Diluted | $ | 1.31 | $ | 1.06 | ||||
| Weighted Shares | ||||||||
| Basic | 50,675,000 | 51,333,000 | ||||||
| Diluted | 50,809,000 | 51,817,000 | ||||||
CorVel Corporation
Quarterly Results – Condensed Balance Sheet
September 30, 2026 (unaudited) and March 31, 2026
| September 30, 2026 | March 31, 2026 | |||||||
| Cash | $ | 269,988,000 | $ | 233,072,000 | ||||
| Customer deposits | 130,464,000 | 115,706,000 | ||||||
| Accounts receivable, net | 108,396,000 | 101,313,000 | ||||||
| Prepaid taxes and expenses | 11,860,000 | 12,206,000 | ||||||
| Property, net | 124,418,000 | 117,906,000 | ||||||
| Goodwill and other assets | 42,779,000 | 41,619,000 | ||||||
| Right-of-use asset, net | 25,692,000 | 21,146,000 | ||||||
| Total | $ | 713,597,000 | $ | 642,968,000 | ||||
| Accounts and taxes payable | $ | 23,563,000 | $ | 24,550,000 | ||||
| Accrued liabilities | 233,889,000 | 203,518,000 | ||||||
| Long-term lease liabilities | 25,643,000 | 20,687,000 | ||||||
| Paid-in capital | 279,042,000 | 268,518,000 | ||||||
| Treasury stock | (928,281,000 | ) | (887,716,000 | ) | ||||
| Retained earnings | 1,079,741,000 | 1,013,429,000 | ||||||
| Total | $ | 713,597,000 | $ | 642,986,000 | ||||
| Contact: Melissa Storan |
| Phone: 949-851-1473 |
| www.corvel.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were CorVel's earnings for the quarter ended September 30, 2026?
CorVel reported net income of $34,087,000 and diluted earnings per share of $0.67. A year earlier, net income was $27,906,000 and diluted earnings per share was $0.54. Quarterly revenue increased 11% to $267 million.
How much stock did CorVel repurchase during the September 2026 quarter?
CorVel repurchased $18.1 million of common stock during the quarter ended September 30, 2026. The company ended the quarter with $270 million in cash and cash equivalents and no borrowings.
What new customer and market-access developments did CorVel announce for CERIS?
CERIS implemented an additional Top 10 national health plan and established a partnership providing access to the Blue Cross Blue Shield market.